Aimco

We were contracted to perform work on 5 properties that AIMCO manages or owns. We spent considerable time coming up with a complete scope for AIMCO and then modifying it to fit within their budget. This included multiple site visits in and out of state. Once the bids were approved and schedules were made the work started. | The first project started and we were under way when a large portion of the job was cancelled. This was not a big deal as this was the last part of the job. The sub-contractor for this part was notified and he filled the scheduled time with other jobs. Approximately a week and a half later we were notified that the portion of the job that was cancelled, AIMCO now wanted to reinstate. Due to the cancellation the sub-contractor filled his schedule and they were no longer a good option for the project. We found another sub-contractor and had them do the project. The project ran long due to the change of sub-contractors and City planning. We finished the job with a zero item punch list and we still have not been paid for the work that finished 60 day ago. | The next 4 projects were turned out to much more challenging. Our sub-contractor that had agreed to do the job disappeared the day before the job was to start. We scrambled to get new sub-contractors. During the search we had a lot of sub-contractors go to the properties and then wouldn’t get back to us. Come to find out later that one of AIMCOs own employees were telling the subcontractors who were bidding the job that they were not going to get paid. We found this out much later in the project. | The 4 projects had mostly the same scope items, which we were to complete one item at one property and then move that trade to the next property. We then could bill for the item that was completed at the first property. The payout would come to our company and we would pay the subcontractor. This was how it was planned out, only the pay outs did not work that way. We completed portions of the scope and did not receive the payouts from them. This put us in a financial bind. We couldn’t collect and we couldn’t pay the subs. AIMCO asked what we needed, and we responded with payouts for the work that had been completed and billed. AIMCO did not respond to our request. Instead they ignored it and the job went badly. We are still waiting on payment on work that was completed 60 day ago. | If you are a contractor be aware of working with AIMCO, they will find a way not to pay you. If they do it will be a long drawn out process.